IBPAP pushes forming AI body

The Information Technology and Business Process Association of the Philippines or IBPAP is now making strides to push for the creation of an artificial intelligence, or AI, Council that would address the significant disruption and challenges, as well as opportunities that the generative artificial intelligence of GenAI may bring to stakeholders.

In a statement, IBPAP president and chief executive officer Jack Madrid said the AI Council's primary objective is to collaborate with learning academies and industry associations such as the Analytics and Artificial Intelligence Association of the Philippines.

"Together, they aim to enhance the workforce's skills in programming, data science, data analytics, and AI ethics, with the overarching goal to empower professionals with advanced capabilities, enabling them to take on higher-value tasks. This initiative reflects IBPAP's commitment to continue driving the industry ahead in an AI-driven economy," Madrid said in a statement.

He said the Philippine IT-BPM industry is embarking on an exciting journey of innovation, leveraging GenAI to revolutionize customer experiences and usher in a new era of productivity and efficiency.

Also, Madrid said at the forefront of this technological evolution, the sector anticipates a transformative impact on customer service, supported by studies of the Massachusetts Institute of Technology, projecting a remarkable 50 percent or more boost in productivity through full-scale GenAI implementation.

On the other hand, recent findings from a McKinsey survey underscore the growing importance of GenAI in business, with approximately 80 percent of respondents, particularly in the tech sector, expressing familiarity with the technology.

Moreover, the said survey said 40 percent of these businesses plan to increase their GenAI investments over the next 2-3 years, foreseeing benefits such as improved productivity, cost optimization, and enhanced business continuity.